UBS AG (UBS) Lowered to “Sell” at Zacks Investment Research
According to Zacks, “UBS Group AG’s profitability growth continues to be challenged by a stressed operating environment with negative interest rates and global growth concerns. Further, in view of the current regulatory and political scenario affecting financial institutions, the company is burdened with a number of claims, disputes, legal proceedings and government investigations. However, we remain optimistic as the company remains focused on building capital level, executing restructuring initiatives, including cost control. Management remains confident to achieve CHF 2.1 billion in net cost reductions by the end of 2017.”
UBS has been the subject of several other research reports. Credit Suisse Group AG began coverage on shares of UBS AG in a research report on Monday, September 19th. They issued a neutral rating for the company. Vetr upgraded UBS AG from a hold rating to a buy rating and set a $14.27 price objective on the stock in a research note on Monday, September 19th. Barclays PLC upgraded UBS AG from an equal weight rating to an overweight rating and dropped their price objective for the company from $21.00 to $17.00 in a research note on Thursday, June 9th. Keefe, Bruyette & Woods restated a buy rating on shares of UBS AG in a research note on Tuesday, June 28th. Finally, Sanford C. Bernstein initiated coverage on UBS AG in a research note on Monday, July 11th. They set an underperform rating on the stock. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. UBS AG has an average rating of Hold and an average target price of $16.87.
UBS AG (NYSE:UBS) opened at 13.99 on Tuesday. The firm has a market cap of $51.85 billion, a PE ratio of 10.90 and a beta of 1.32. The company’s 50-day moving average is $13.97 and its 200-day moving average is $14.55. UBS AG has a one year low of $11.93 and a one year high of $20.70.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Glenmede Trust Co. NA raised its position in shares of UBS AG by 13.3% in the first quarter. Glenmede Trust Co. NA now owns 41,910 shares of the company’s stock valued at $671,000 after buying an additional 4,914 shares during the last quarter. BlackRock Institutional Trust Company N.A. acquired a new position in shares of UBS AG during the first quarter valued at approximately $159,000. Prudential PLC raised its position in shares of UBS AG by 3.6% in the first quarter. Prudential PLC now owns 7,815,491 shares of the company’s stock valued at $125,204,000 after buying an additional 273,812 shares during the last quarter. AMP Capital Investors Ltd raised its position in shares of UBS AG by 3.9% in the first quarter. AMP Capital Investors Ltd now owns 2,697,936 shares of the company’s stock valued at $44,542,000 after buying an additional 101,297 shares during the last quarter. Finally, Lombard Odier Transatlantic Limited Partnership acquired a new position in shares of UBS AG during the first quarter valued at approximately $2,188,000. 26.90% of the stock is owned by institutional investors.
About UBS AG
UBS Group AG (UBS) is a holding company. The Company provides a range of financial services, including advisory services, underwriting, financing, market-making, asset management and brokerage on a global level, and retail banking in Switzerland. The Company comprises Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank.
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